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IsoEnergy Ltd
Symbol ISO
Shares Issued 84,273,589
Close 2020-05-06 C$ 0.51
Market Cap C$ 42,979,530
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IsoEnergy acquires 46,000 hectares of Sask. U claims

2020-05-06 07:41 ET - News Release

Mr. Craig Parry reports

ISOENERGY STAKES THE EVERGREEN PROPERTY AND EXTENSIONS TO THREE OTHER URANIUM EXPLORATION PROPERTIES

IsoEnergy Ltd. has acquired over 46,000 hectares of new uranium exploration claims divided amongst four properties in the prolific Eastern Athabasca basin of Saskatchewan. The highlight is the 31,800-hectare Evergreen property located along the southeast rim of the Athabasca basin, just 16 kilometres west of the Key Lake uranium mill. All of the new claims are 100 per cent owned by IsoEnergy.

New staking summary

  • Evergreen property: 31,800 ha located along the southeast rim of the basin;
  • Larocque East extension: 6,900 ha on the northwestern end of the property, home of the Hurricane zone, the newest high-grade uranium discovery in the Athabasca basin;
  • Full Moon extension: 6,200 ha located between the original Full Moon property and the company's Larocque East property;
  • Carlson Creek extension: 1,200 ha located just east of the original Carlson Creek property.

Steve Blower, vice-president of exploration, commented: "I'm very pleased with the results of our recent staking efforts, particularly with the acquisition of the Evergreen property. In Evergreen we acquired a contiguous package of over 31,000 ha along the basin margin close to the Key Lake mill. Several conductive zones are present that warrant exploration attention, especially given the presence of uranium-bearing boulders and a paucity of drilling on the property."

Evergreen property

The Evergreen property consists of 13 claims totalling 31,800 ha. It is approximately 40 km long and is elongated in an east-west direction parallel to the margin of the Athabasca basin. Most of the property is just beyond the basin edge, therefore there is no sandstone cover over this part. Importantly, the eastern end of the property is only 16 km west of the Key Lake uranium mill. There are two known occurrences of uranium-bearing boulders, plus drill intersections of uranium mineralization immediately south of the property on conductors that extend onto Evergreen. Only nine historical drill holes have ever been completed at Evergreen.

Larocque East extension

A total of 6,900 ha of new claims were staked along the northwestern extension of the Larocque East property. The new claims cover areas of low magnetic susceptibility with sporadic and undrilled historical conductors -- some of which are within 10 kilometres of the Hurricane zone discovery.

Full Moon extension

At Full Moon, a total of 6,200 ha was added to the property through staking. Similar to the new claims acquired at Larocque East, this new ground covers areas of low magnetic susceptibility with sporadic and undrilled historical conductors within 12 to 20 kilometres of the Hurricane zone discovery. Sandstone cover is expected to be less than 150 metres thick throughout the property.

Carlson Creek extension

Located proximal to the prolific McArthur River to Cigar Lake corridor, the newly staked Carlson Creek extension covers 1,200 ha of ground characterized by moderate magnetic relief and historical conductors that have never been drilled.

Next steps

With the addition of the newly staked claims, the company now has 15 properties in the Eastern Athabasca basin totalling 109,100 ha. Historical work on all of the new claims, particularly airborne and ground geophysical surveys and core drilling, is being compiled and integrated with IsoEnergy's existing datasets. This work is expected to yield target areas for further exploration as time and budgets allow. As the company's focus is currently the Hurricane zone, there is no plan to conduct fieldwork on any of these newly staked claims in 2020. Further, there is no regulatory requirement to do any fieldwork until 2022.

Qualified person statement

The scientific and technical information contained in this news release was prepared by Andy Carmichael, PGeo, IsoEnergy's senior geologist, who is a qualified person (as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects). Mr. Carmichael has verified the data disclosed. This news release refers to properties other than those in which the company has an interest. Mineralization on those other properties is not necessarily indicative of mineralization on the company's properties.

About IsoEnergy Ltd.

IsoEnergy is a well-financed uranium exploration and development company with a portfolio of prospective projects in the Eastern Athabasca basin in Saskatchewan, Canada.

We seek Safe Harbor.

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